Commodity Prices and Trade Weigh on Ag Economy Barometer

first_img August-barometer-dropsThere has been a significant drop in the most recent Purdue University/CME Group Ag Economy Barometer, and both the current conditions and future expectation indices contributed to the decline. The August barometer dipped 29 points to a total of 124. Expectations for the future seemed to dominate this month’s drop.“The Index of Future Expectations fell to a reading of 125 compared to 159 a month earlier. The Index of Current Conditions also fell from a reading of 141 a month ago to 122 in the month of August,” said Jim Mintert, principal investigator and director of the Purdue Center for Commercial Agriculture.He explained that the sharp drop in many commodity prices in July and parts of August dominated farmer sentiment. But trade is a major factor as well. Since March the monthly survey of 400 U.S. farm producers has asked whether the trade dispute with China will be settled soon.“Initially 45 percent of the farmers said that they expected a quick resolution to the soybean trade dispute, but that has dropped off significantly in recent months,” he explained. “In the August survey, the percentage expecting a quick resolution actually rose a bit compared to the prior month, hitting 29 percent compared to 22 percent earlier. We followed up by asking farmers if they expect this soybean trade dispute with China to be resolved in a way that’s beneficial to U.S. agriculture. The percentage of farmers expecting a beneficial outcome declined this month from 78 percent in July to 72 percent in August, and the percentage expecting an unfavorable outcome rose from 19 to 25 percent here in August.”The survey was conducted between August 12 and August 20, 2019, so almost all of responses came after the USDA August 12 Crop Production report. Producers were asked about the Market Facilitation Program payments, and 71 percent felt this new round of MFP payments will either “completely or somewhat relieve” their concerns about tariffs’ impact on 2019 farm income. But 29 percent said it doesn’t alleviate their concerns at all.As for next year, over half of respondents expect more assistance then too. Fifty-eight percent of farmers in the August survey said they expect another MFP payment to be made to U.S. farmers for the 2020 crop year. That would suggest a majority of farmers are counting on payments from USDA helping to make up future income shortfalls.This month’s report also discusses whether producers feel now is a good or bad time to make large investments in their farming operations and their expectations for farmland values. See the barometer details at https://purdue.ag/agbarometer.Source: Purdue News Facebook Twitter Home Indiana Agriculture News Commodity Prices and Trade Weigh on Ag Economy Barometer SHARE Commodity Prices and Trade Weigh on Ag Economy Barometer Facebook Twitter SHARE Previous articleIndiana Crop Progress: Not Much ChangeNext articleRyan Martin’s Indiana Farm Forecast for September 4, 2019 Andy Eubank By Andy Eubank – Sep 3, 2019 last_img read more

Bank told to repay legal fees to Limerick mother

first_imgLimerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” Twitter Print PTSB has been told to repay the Limerick mother the legal fees that it charged for taking her to courtPERMANENT TSB Limerick has been ordered to return or credit €2,710 in legal fees it charged a young mother they took to court in a bid to repossess her home.County Registrar Pat Wallace issued the instruction after he was given copies of the woman’s bank accounts detailing the charges that had been made.Sign up for the weekly Limerick Post newsletter Sign Up “And all of this, while I had been paying my mortgage”, the young mother said.In July, Mr Wallace heard the woman explained that in 2013 the bank instigated proceedings against her.“I just want to tell the court that I have been paying my mortgage in full for the last two years but each time this case is brought before the court, the bank apply their legal fees to my arrears. I have been paying it all and then they throw this on top. I just can’t cope with it”, she said.The young mother explained that at the start of 2013, she had an illness and missed four mortgage repayments.“The bank brought me to court but I got back on track and I haven’t missed a payment in more than two years and they still have me here and expect me to pay for their fees.”She borrowed €146,000 to buy her home in 2008.As of last July, she owed €147,000 and €13,000 in arrears.Bank charges that were applied by PTSB included legal fees for the case they were taking against her.They had sought an indefinite adjournment but Mr Wallace asked for a full review of the file.Other account actions by the bank had also been questioned by the young mother prompting Mr Wallace to criticise lenders adding that he had a “serious issue with arbitrary in-house cost being loaded against a borrower’s loan.“It is the court that determines and awards legal costs where applicable”, he said.After reviewing the woman’s statements and documentation from the bank, Mr Wallace said “I have found that €2,710 has been charged to you by the bank in legal fees.“Therefore, when these proceedings are resolved, I want that amount to be credited or returned to this woman,” he instructed the bank’s solicitor.The case was adjourned until next January for review.In another case, Mr Wallace gave a similar instruction again to PTSB over €2,319 they had taken from a Limerick father under similar circumstances. Facebook NewsBank told to repay legal fees to Limerick motherBy Staff Reporter – September 12, 2016 798 WhatsApp Previous articleCompetition winnerNext articleRugby – Weekend Results from Munster Rugby Staff Reporterhttp://www.limerickpost.ie TAGSlimerickpermanent tsbRepossession court Advertisementcenter_img Limerick Ladies National Football League opener to be streamed live Email WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Predictions on the future of learning discussed at Limerick Lifelong Learning Festival Limerick’s National Camogie League double header to be streamed live RELATED ARTICLESMORE FROM AUTHOR Linkedin Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clashlast_img read more

Long-duration storage firm Form Energy gets $70 million investment infusion

first_imgLong-duration storage firm Form Energy gets $70 million investment infusion FacebookTwitterLinkedInEmailPrint分享Reuters:Form Energy, a startup planning to make battery systems that can efficiently store wind and solar energy for long periods of time, recently landed its biggest batch of funding, its chief executive told Reuters on Friday.Mateo Jaramillo, the chief executive and co-founder of Massachusetts-based Form Energy, said the company has closed Series C funding of more than $70 million, a milestone that had not been previously reported. Funding in the company now totals more than $120 million. Jaramillo did not name the investors, but said details will be released in a couple weeks.“It’s an acknowledgement from these new investors … that this market is here and coming faster than people had realized,” Jaramillo told Reuters. He spoke during a video interview that will be part of Reuters Events Energy Transition North America next week.Jaramillo, who previously headed the stationary battery team at Tesla, co-founded Form Energy in 2017. His company aims to make batteries that can dispatch energy for days, greatly expanding the ability to supply electricity generated from wind and solar power to the grid.Current batteries, mostly made from lithium-ion, only last about four hours. Combining new and current batteries could provide a source of “renewable baseload” power with potential to replace plants that burn natural gas and coal, that emit large amounts of greenhouse gases.Form has received previous funding from Bill Gates’ Breakthrough Energy Ventures, The Engine, which is affiliated with the Massachusetts Institute of Technology, Prelude Ventures, a climate impact venture capital fund, and others.[Timothy Gardner]More: U.S. advanced battery startup Form Energy nabs $70 million in funding: CEOlast_img read more

EC Trojan Gridiron Standout Cole Rosfeld Signs For College With Saints

first_imgEast Central Trojan Football standout Cole Rosfeld will continue his Football career at Thomas More majoring in Marine Biology.Cole is the son of Misty Rosfeld and Jason Rosfeld.last_img